» An IT SEZ to come up in West Bengal? Infosys seeks govt nod to set up the zone

An IT SEZ to come up in West Bengal? Infosys seeks govt nod to set up the zone

Updated: Friday, August 5, 2016, 17:50 [IST]

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New Delhi, Aug 5: Software major Infosys has sought the Union government's approval to set up an IT special economic zone (SEZ) in West Bengal.

The company's application will be considered by the inter-ministerial body, Board of Approval (BoA), headed by Commerce Secretary Rita Teaotia, in its meeting on August 12.

Infosys has proposed to set up IT/ITeS SEZ over an area of 20.14 hectares in South 24 Parganas, the boards' meeting agenda said.

"Development Commissioner of Falta Special Economic Zone has recommended grant of in-principle approval subject to state government clearance which has been sought for from the applicant," it said.

Two more players -- Devbhumi Realtors and Phoenix Living paces -- have also sought approval from the BoA to set up It/ITeS zones in Telangana.

Further, Chhindwara Plus Developers has approached the government for setting up of a multi product SEZ in Madhya Pradesh, over an area of 1,320.06 hectares.

SEZs are exports hubs which contribute about 16 per cent to the country's total outbound shipments. The commerce ministry is taking steps to revive investors interest in these zones. It has asked the Finance Ministry to extend sops like rollback or reduction in the minimum alternate tax.

The 19-member BoA deals with SEZ related matters. Exports from special economic zones (SEZs) logged a marginal growth of 0.77 per cent to Rs 4.67 lakh crore in 2015-16.

The exports from such 204 zones were Rs 4.63 lakh crore in 2014-15. Highest number of SEZs are operational in states like Tamil Nadu, Karnataka, Telengana and Maharashtra.